RMD – Simple IRA
If a Simple IRA participant has reached age 70-1/2 but is still employed at the company and making contributions to the plan, are they still required to begin taking RMD’s? Does it depend on the individual Simple plan?
If a Simple IRA participant has reached age 70-1/2 but is still employed at the company and making contributions to the plan, are they still required to begin taking RMD’s? Does it depend on the individual Simple plan?
Permalink Submitted by Martin Helmer on Mon, 2008-11-17 21:47
SIMPLE and SEP Iras are just like a traditional IRA when it comes to required minimum distributions. There’s no further deferral at age 70 1/2, even if still working.